Tim Cook cashed in $36 million in Apple stock

Apple CEO Tim Cook unlocked 1.26 million shares of Apple stock — worth $135 million — last week as part of a stock-compensation plan enacted when he became CEO in 2011, according to an SEC document published last Friday.

Nearly 1 million of those shares were earned because Cook lasted five years as Apple CEO. The remainder was awarded because Apple has outperformed two-thirds of the companies in the S&P 500.

According to the Wall Street Journal, Cook sold $36 million of his stock, forfeited about $71 million to taxes, and is holding the rest.

Cook still has about 3.5 million shares in Apple that are set to vest over the next five years, depending on performance.

In the five years since Cook has taken over Apple, revenue and profit have doubled, and Apple stock has outpaced the broader market when taking into account dividends and stock buybacks. But recently, sales have fallen on an annual basis, and many are wondering if Apple can continue to produce new hit products.

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